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and tell him we love him. >> we had also seen reports that he may have asperger's or also attention deficit disorder, that he may have had a couple challenges like that. did you ever see anything like that? do you think -- how will that impact him here as he starts down this path of healing? >> well, i honestly believe that ethan will probably -- it's a shame that this had to happen but for any child that i believe will bounce back better than any child i know of, would be ethan. he meets no strangers and i just feel confident he's going to bounce back and we hope to have him in school as quickly as possible. >> so special that you say that. i want to ask you a little about his mother. you just heard me share the statement that she released to the media which was so eloquent and gracious. she also, according to a state senator, said this when the fbi, they were debating whether to go in and kill jimmlee dykes earlier. she was the one, according to the state senator who said she put her hand on the officer's heart and said sir, don't hurt him, he's sick. smith told that today to abc news. th
and tell him we love him. >> we had also seen reports that he may have asperger's or also attention deficit disorder, that he may have had a couple challenges like that. did you ever see anything like that? do you think -- how will that impact him here as he starts down this path of healing? >> well, i honestly believe that ethan will probably -- it's a shame that this had to happen but for any child that i believe will bounce back better than any child i know of, would be ethan. he...
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Feb 10, 2013
02/13
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we would replace that sequester with deficit reduction achieved over a longer time. >> you, in suburban maryland, represent a lot of people that would be directly affected if the sequester hits. do you think the administration is doing a good job of preparing federal workers and folks whose paychecks depend on what happens in the next few weeks for how it will work and how to plan their lives? >> we have been urging them to provide guidance to federal employees because as we get closer to the date there is more and more anxiety, understandably. they are trying to provide notice to employees about things that can be expected, but the problem is it affect each agency differently, so there is not one rule of thumb that will apply to every federal agency. part of the impact will depend on the extent to which employees make up most of the budget, as opposed to agencies that have more of a procurement budget or their budget is contracted out. i should emphasize that while it will hit federal employees and that is not good for anyone, that will hurt -- it will hurt around the country. let's ta
we would replace that sequester with deficit reduction achieved over a longer time. >> you, in suburban maryland, represent a lot of people that would be directly affected if the sequester hits. do you think the administration is doing a good job of preparing federal workers and folks whose paychecks depend on what happens in the next few weeks for how it will work and how to plan their lives? >> we have been urging them to provide guidance to federal employees because as we get...
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Feb 6, 2013
02/13
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we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama impor
we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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Feb 10, 2013
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you've been worried about the deficit. what do you say to this argument that trying to reduce the deficits in europe has been a disaster? it's slowed growth, slowed tax reeve news and increased the deficit? >> let me just say i am not in favor of reducing the deficit now. the short term i am not in favor of reducing the deficit. but i do think there have to be some longer-term plans that give the financial markets some degree of confidence that we're not just going to blow apart. i think this is something on the longer term which is what bowles-simpson was all about, something which i favored totally. so i think that was a combination of including longer-term control over some of our big expenditures, particularly in health care. and that is something we have to do. i think the president could get some things if, in fact, he addressed some of these longer term issues but he walked away from that and there's no confidence that he really cares about it. >> let's talk about common -- noneconomic things. i would have thought y
you've been worried about the deficit. what do you say to this argument that trying to reduce the deficits in europe has been a disaster? it's slowed growth, slowed tax reeve news and increased the deficit? >> let me just say i am not in favor of reducing the deficit now. the short term i am not in favor of reducing the deficit. but i do think there have to be some longer-term plans that give the financial markets some degree of confidence that we're not just going to blow apart. i think...
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Feb 6, 2013
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but that we're looking at the smallest budget deficit since president obama has been in office, well under $1 trillion at $845 billion. and they say federal revenue, going up 25% in part because of that fiscal cliff deal. >>> well, a major decision expected from the boy scouts of america. national board members set to vote on whether to leave the decades-long ban on gay leaders and scouts. in texas, it is a controversial issue drawing fire from both sides and putting one of the country's largest youth organizations under a microscope. president obama said over the weekend scouting should be open to everyone while texas governor rick perry expressed the opposite opinion. local scout units will be able to decide on whether to leave gays to their ranks. and on the heels, the pentagon is announcing a policy shift. leon panetta is expected to expand some benefits to granting access to various spots on bases are said to be included. however, it remains droughtful that mental, dental, housing allowances would be offered under the new proposal. an extension of those benefits would require an
but that we're looking at the smallest budget deficit since president obama has been in office, well under $1 trillion at $845 billion. and they say federal revenue, going up 25% in part because of that fiscal cliff deal. >>> well, a major decision expected from the boy scouts of america. national board members set to vote on whether to leave the decades-long ban on gay leaders and scouts. in texas, it is a controversial issue drawing fire from both sides and putting one of the...
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Feb 7, 2013
02/13
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us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to close some tax loopholes and deductions that the average american cannot take advantage of, to raise the revenue, to actually do the job in a way that allows us to continue to grow. now, the reason this is relevant is because i gather and i haven't gotten this from first-hand sources, but from second hand sources in the press that our friends on the other side of the aisle,
us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to...
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Feb 10, 2013
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the final minute, the deficit 5 and misses in the lane. the rebound, kroma with the tip- in and the colonials within 3 and that is a one-possession game. the inbound and the land and grab loses the ball and appears to be fouled. to kroma, he's unable to get the shot off and lonagan wants the foul and doesn't get the fall. gw ranks to butler, 59-56 and hosting in fairfax and with that first half, hits the three from the wing. the deficit down to two and that is as close as they get and mason down 6 and no rebound for them either. delaware to haguens for the dunk and fallling to delaware, 79-72 and au beats colgate 70- 55 and howard over maryland eastern shore, 63-44. and the techs square off. virginia tech hosting georgia tech and the hokies miss the first 10 shots and scoring the basket seven minutes into the game and that is 11-3 and forces the shot and on a break. the hokies were trailing 37-18 at the half. that is not good. the success half, and they do better, on a 15-1 run and led by eric green, scoring 9 points during the run and cut
the final minute, the deficit 5 and misses in the lane. the rebound, kroma with the tip- in and the colonials within 3 and that is a one-possession game. the inbound and the land and grab loses the ball and appears to be fouled. to kroma, he's unable to get the shot off and lonagan wants the foul and doesn't get the fall. gw ranks to butler, 59-56 and hosting in fairfax and with that first half, hits the three from the wing. the deficit down to two and that is as close as they get and mason...
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Feb 9, 2013
02/13
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this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had throw years of recovery relative to europe. if we're ever going to take the hit this is a better time to take t if this were three years ago, i would be arguing right with you. i think we can take a chance. when are we going to get the chance to take these cuts in the pentagon or take a bite out of the deficit? i think it's worth it. >> now twittering dean quester. >> if he would stop blaming someone else other than himself and man up and take responsibility. >> kris hayes, i'm sure your guests will have much more explaining on kicking the can down the road. >> thank you. >>> ousted fox news contributor says he's on a mission fo
this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had...
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Feb 8, 2013
02/13
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. >> i want to listen to something that john boehner said about how we have handled deficits over the years. let's listen to this. >> at some point, washington has to deal with its spending problem. now, i've watched them kick this can down the road 22 years that i've been here. i've had enough of it. it's time to act. >> that is -- i'm trying to think of a word other than lie. kick the can down the road? we had a big tax increase in 1993 with president clinton along with big spending cuts. >> right. >> it was a deficit reduction package that worked. they continued to do more deficit reducing package with newt gingrich on the spending side throughout the decade and we're on our way to a surplus. >> that's right. i've been calling it the undecade, the 1990s has been written out of their record. they would have you believe that it was always the way it was under reagan and then bush. >> why don't they just say, leave off the clinton tax increase, which helped a lot, and just claim they did it for spending cuts? >> because if they do, if they admit that something nice happened in the '90
. >> i want to listen to something that john boehner said about how we have handled deficits over the years. let's listen to this. >> at some point, washington has to deal with its spending problem. now, i've watched them kick this can down the road 22 years that i've been here. i've had enough of it. it's time to act. >> that is -- i'm trying to think of a word other than lie. kick the can down the road? we had a big tax increase in 1993 with president clinton along with big...
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now other than being against the deficit. against the things president obama is trying to do on taxes. we have to be four things. we have to explain to people that cutting spending is but for for our economy, not just cutting spending. americans are different from my generation. they have different philosophies, different ways they approach their challenges and issues in life. we better become attuned to them. when you look at the demographics and the racial component of our base, we think the results are obvious, of what the future holds. one of the most successful periods of the republican party was one we had a contract with america. it was 1992. we told the american people that if they gave us the majority, we would do the following 10 things. we need another contract with america, a positive agenda of how we can help entrepreneurs, how we can help young people get an education, how we can do the things necessary to create an environment for small businesses to flourish. and commit to that agenda. then, if the people are
now other than being against the deficit. against the things president obama is trying to do on taxes. we have to be four things. we have to explain to people that cutting spending is but for for our economy, not just cutting spending. americans are different from my generation. they have different philosophies, different ways they approach their challenges and issues in life. we better become attuned to them. when you look at the demographics and the racial component of our base, we think the...
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Feb 7, 2013
02/13
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it means that we're going to talk about, yes, deficits and taxes and sequesters and potential government shutdowns and debt ceilings. we'll talk about that stuff. all from the perspective of how are we making sure that somebody who works hard in this country, a cop or a teacher, or a construction worker or a receptionist, that they can make it if they work hard. and that their kids can make it. and dream even bigger dreams than they have achieved. and obviously, a lot of what we'll be working on michellely over the next few weeks is going to be on how do we deal with the sequester issue, and i just want to make this quick point. i had a press conference this week in which i reiterated i am prepared, eager, and anxious to do a big deal, a big package that ends this governance by crisis for every two weeks or every two months or every six months. we are threatening this hard won recovery where finally housing is starting to pick up and commercial real estate is starting to do better and the unemployment numbers are still too high, but we're seeing some job growth and businesses are investi
it means that we're going to talk about, yes, deficits and taxes and sequesters and potential government shutdowns and debt ceilings. we'll talk about that stuff. all from the perspective of how are we making sure that somebody who works hard in this country, a cop or a teacher, or a construction worker or a receptionist, that they can make it if they work hard. and that their kids can make it. and dream even bigger dreams than they have achieved. and obviously, a lot of what we'll be working...
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Feb 12, 2013
02/13
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it will not add a dime to the deficit. >> and what about cutting the deficit? jean spurling told joe scarborough that the president knows that he has to propose something. he has to make some proposals on entitlements. is he going to be that specific tonight? >> well, he has a specific -- we have a proposal that is on the table from the fiscal talks that we had with congress that has spending cuts that does do some entitlement reforms as well as raising revenue by closing loopholes to the -- that's still very much on the table. the president thinks, well, we think creating jobs -- he definitely thinks he is committed to deficit reduction and thinks that this is a drag on the economy too. if we don't deal with it and he is very committed to wanting to do it. we need a partner as some people like to say in december, and so we need a congress that's willing to work with us, but we do think that while congress is working on the larger piece that they should turn off the sequester for a few months, whatever time is needed in order to work on this bigger project, and
it will not add a dime to the deficit. >> and what about cutting the deficit? jean spurling told joe scarborough that the president knows that he has to propose something. he has to make some proposals on entitlements. is he going to be that specific tonight? >> well, he has a specific -- we have a proposal that is on the table from the fiscal talks that we had with congress that has spending cuts that does do some entitlement reforms as well as raising revenue by closing loopholes...
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Feb 6, 2013
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he wants to do some long-term spending reduction on the de deficit. republicans say don't trust him. i don't think republicans will be swayed by the cbo report. they have what they see as a mandate from voters, cut spending. >> let me bring in congressman john yarmuth. what would you like to see? >> i think some of the spending you mentioned could be very youthful. some of the farm subsidies that are unjustified. i'd like to consider a securities transaction pack, the so called wall street packs that can raise tens of billions of dollars. and we can do some cutting, but in that cbo report that you mentioned, it also said that the kind of austerity program which the sequester would represent would be damaging to the recovery, would hurt gdp, and, of course, that's in line with what most economists believe. i think we've got to be very careful when we just say we've got a cut, without regard to the impact of those cuts, both on the economy and on some very important programs. >> you know what the republicans' answer to that is. they say one of the conce
he wants to do some long-term spending reduction on the de deficit. republicans say don't trust him. i don't think republicans will be swayed by the cbo report. they have what they see as a mandate from voters, cut spending. >> let me bring in congressman john yarmuth. what would you like to see? >> i think some of the spending you mentioned could be very youthful. some of the farm subsidies that are unjustified. i'd like to consider a securities transaction pack, the so called wall...
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Feb 6, 2013
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deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate will remain above 7.5%. that would make 2014 the 6th year in a row with unemployment so high. the longest such period in 70 years. martha: the unemployment rate has been above 7% since december of 2008. and most recent monthly number ticked up from 7.9% from 7.8%. not a good trend. when you look at some of these numbers it makes it a tough argument for economic recovery. but the president remains convinced we are starting to see it. gregg: poverty is up. incomes are down. so the arrow is going the wrong way. in the meantime president oba
deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate...
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Feb 5, 2013
02/13
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under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next ten years u.s. debt will increase $10 trillion from a little more than 16 trillion-dollar now to more than $26 trillion in 2023. >> you can't raise enough tax to say pay for this problem. you won't grow fast enough to get rid of this problem. you ultimately have to deal with spending. >> after 2023, the debt begins to soar. >> after that it's going to grow and reach the trillion and go beyond the trillion. so at no point in the foreseeable future is the deficit going to come down to manageable level. >> noting repeatedly high debts are bad and dangerous as he put
under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next...
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the symbolic vote he detail how he would cut the deficit to avoid the automatic spending cuts next month. >> mr. president, you missed the deadline again. let's see your plan. let's show it to the american people and have the discussion about the proper way to manage down this debt and deficit. >> reporter: without a budget deal on march 1st so-called sequestration will force reductions in military training, cutbacks in operations, and layoffs of civilian pentagon employees plus civilian defense contractors. >> it's an idiotic management nightmare to try to run a complex sophisticated, long-term program when you have short-term, massive cuts. >> reporter: deep cuts also loom in social services. outgoing defense secretary panetta slammed democrats and republicans for their game of chicken. >> let's see how bad it can get in order to have the other party blink. >> reporter: some senate republicans today said push the deadline back seven months. but house speaker john boehner said in effect he will not blink. >> at some point, washington has to deal with its spending problem. i've watched t
the symbolic vote he detail how he would cut the deficit to avoid the automatic spending cuts next month. >> mr. president, you missed the deadline again. let's see your plan. let's show it to the american people and have the discussion about the proper way to manage down this debt and deficit. >> reporter: without a budget deal on march 1st so-called sequestration will force reductions in military training, cutbacks in operations, and layoffs of civilian pentagon employees plus...
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Feb 11, 2013
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we're running trillion-dollar deficits. my goodness. >> i'm fwlad to hear you say that you're open to cuts, more nondiscretionary cuts because both sides always go to the discretionary domestic spending because those are the quote, quo easy cuts. is that your position? >> very much so. look, we've got an entitlement crisis. and that's where the real money is. you know, we're going to have to reform those programs or we're going to lose them. and i don't want to lose social security or medicare or medicaid, but they've got to change dramatically. we tried to do that in the ryan budget last year. i think we'll see us even more aggressive this year. that's where we've got to go. we're not going to lose these cuts. they're in law. the same way the president enjoyed the advantage in the fiscal cliff negotiations, the tax increases were in law and the best we could do was negotiate and save as many of the bush tax cuts as we could. now, you know, these cuts are in law. so they're going to occur, and he should sit down with us and
we're running trillion-dollar deficits. my goodness. >> i'm fwlad to hear you say that you're open to cuts, more nondiscretionary cuts because both sides always go to the discretionary domestic spending because those are the quote, quo easy cuts. is that your position? >> very much so. look, we've got an entitlement crisis. and that's where the real money is. you know, we're going to have to reform those programs or we're going to lose them. and i don't want to lose social security...
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Feb 4, 2013
02/13
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the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the republicans have a different approach. we believe we have to rein in entitlement spending, the budgets up until now. again across the aisle and on the other side, they're unwilling to handle. >> we'll leave it there. thank you. >> let you both get back to work. thanks for joining us. >> thank you. >> appreciate your time. thanks very much. isn't it nice to know in two weeks you haven't missed anything? >> this sounds familiar. >> 40 minutes before the closing bell sounds. dow down 103 points. >>> google getting downgraded after a record high on friday when we allegedly hit 14,000. why did that happen? and are you
the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the...
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Feb 11, 2013
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[applause] if you look at what is happening here, it is true that the deficit are going to be below $1 trillion for the first time in several years. and it is true that the new revenues raised in spending that you did not do. it is true that the economy is beginning to grow again. but this is almost like the reverse of what we did in 1993. that is, i was prickly well aware if we raise taxes and cut spending, it could have a dragging effect in the economy. but not nearly as much as spending 40% of the budget paying interest on the debt. not nearly as much as having low growth. at nearly as much as having interest rates that were too high. so our gamble was that the explosive the fact of lowering interest rates, with a booming bond market and having more disposable income over a 5 =-10 year period would more than offset putting the hammer down by raising more money and cutting spending. it turned out to be a good gamble, but it made sense. it will make sense here again. but timing is everything. and so, i think he should have a budget that does not defy our arithmetic but also, and doesn
[applause] if you look at what is happening here, it is true that the deficit are going to be below $1 trillion for the first time in several years. and it is true that the new revenues raised in spending that you did not do. it is true that the economy is beginning to grow again. but this is almost like the reverse of what we did in 1993. that is, i was prickly well aware if we raise taxes and cut spending, it could have a dragging effect in the economy. but not nearly as much as spending 40%...
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Feb 11, 2013
02/13
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i look at the big change in the trade deficit in one month, and that raises alarm bells. i look at the sharp drop in consumer confidence and consumer sentiment. that raises alarm bells. >> reporter: another immediate concern is the impact of higher payroll taxes, which could force some households to cutback spending. in addition, gasoline prices are rising. and if they hit the psychologically important $4 a gallon mark, many consumers could also pull back on shopping. and long term, federal budget problems remain one of the biggest hurdles to growth. the u.s. is running an annual deficit of $1.1 trillion. >> we still have some fiscal speed bumps coming. and then we have the question of what they actually do on the fiscal side. so, right now, the economy and the fiscal situation are wrapped up into one really nasty ball of wax. >> reporter: keep in mind that many of the international problems that have existed for more than a year haven't gone away. slowing economies in europe and china could slow global growth. and conflict with iran could push up energy prices. erika mil
i look at the big change in the trade deficit in one month, and that raises alarm bells. i look at the sharp drop in consumer confidence and consumer sentiment. that raises alarm bells. >> reporter: another immediate concern is the impact of higher payroll taxes, which could force some households to cutback spending. in addition, gasoline prices are rising. and if they hit the psychologically important $4 a gallon mark, many consumers could also pull back on shopping. and long term,...
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now, at some point we're going to have to begin reducing the deficit. when we do, the economy will be weak. that will make the deficit challenge even greater. it's a negative feedback loop. right now when all these democrats say, look, mr. market is saying go ahead, borrow, we don't square. that is not a really market. that's the echols building. that's one side of washington telling the other side, don't worry, i'm buying all the bonds. now, if you think this kind of ponzi finance is anything to do with capitalism or free markets or anything to do with sustainability, then you've read an economic textbook that didn't even exist in 1995. dagen: david, thank you so much. david stockman, i know it's like facelift. like the first few you get it kind of hides your age, but eventually you're going to look, well, 8 6. connell: hasn't thought of it that way, but as always, you bring up a unique perspective. dagen: what? i'm really 75. connell: well, you look great. the ftc is pressing for new guidelines on the mobile industry. dagen: and if your worried you --
now, at some point we're going to have to begin reducing the deficit. when we do, the economy will be weak. that will make the deficit challenge even greater. it's a negative feedback loop. right now when all these democrats say, look, mr. market is saying go ahead, borrow, we don't square. that is not a really market. that's the echols building. that's one side of washington telling the other side, don't worry, i'm buying all the bonds. now, if you think this kind of ponzi finance is anything...
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Feb 12, 2013
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. >> goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs. >> top republicans including senator mcconnell already critical of the speech. >> i strongly suspect the white house will subject us to yet another campaign blitz. frankly, i could write the scripts myself and will be told the president's hands are tied by the sequester he proposed, signed and refuses to get rid of. >> we learned the president will make a major announcement of afghanistan announcing that 34,000 u.s. troops will return home from the region exactly one year from today. that's about half the troops there now. joining us now, maryland congressman chris van hollen, ranking member of the house budget committee. thank you for joining us. >> great to be with you, tamron. >> first, what are the expectations for the president tonight? >> well, i think as you said the president's going to lay out his plan for xik growth, for job creation but focusing on the fact it is not good enough just to have economic growth for the folks alr
. >> goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs. >> top republicans including senator mcconnell already critical of the speech. >> i strongly suspect the white house will subject us to yet another campaign blitz. frankly, i could write the scripts myself and will be told the president's hands are tied by the sequester he proposed, signed and refuses to get rid of. >> we learned the...
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Feb 10, 2013
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which is less than the projected deficit for the year. i mean, the bottom line, congresswoman, is, you cannot raise taxes enough to solve the deficit problem. >> nobody is saying that. we are saying it has to be balanced. now on the subject of the high end we are not talking about raising rates. we did that. reeliminated the high end tax cuts of the bush years which only increased the deficit, and didn't create jobs. we kept the low income tax cuts and the -- what we have in our proposal, that comes from our top democrat on the budget committee is to say we'll eliminate subsidy and it gives us a lot of money, eliminating the subsidy for big oil. we also have the buffett rule which says all of the high income people will pay a minimum of -- -- >> raising tax on the wealthy. >> no, you are saying they should pay their fair share, which is 30%, which is lower than 39.6, which is the rate -- the bracket they are in. >> chris: but you say, if they have a deduction... >> take advantage of so many loopholes. >> chris: deductions on the books. th
which is less than the projected deficit for the year. i mean, the bottom line, congresswoman, is, you cannot raise taxes enough to solve the deficit problem. >> nobody is saying that. we are saying it has to be balanced. now on the subject of the high end we are not talking about raising rates. we did that. reeliminated the high end tax cuts of the bush years which only increased the deficit, and didn't create jobs. we kept the low income tax cuts and the -- what we have in our proposal,...